Haverty Furniture Companies, Inc. (NYSE:HVT) Sees Large Increase in Short Interest

Haverty Furniture Companies, Inc. ( – ) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totalling 1,190,000 shares, a growth of 10.2% from the April 30th total of 1,080,000 shares. Currently, 9.0% of the shares of the stock are short sold. Based on an average trading volume of 110,000 shares, the days-to-cover ratio is currently 10.8 days.

Haverty Furniture Companies Stock Performance

traded up $0.21 during trading hours on Monday, hitting $28.62. 109,810 shares of the company’s stock were exchanged, compared to its average volume of 103,661. The business’s 50 day moving average is $30.31 and its 200-day moving average is $32.60. Haverty Furniture Companies has a 12-month low of $25.14 and a 12-month high of $37.05. The firm has a market capitalization of $464.79 million, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 1.50 and a beta of 1.43.

Haverty Furniture Companies ( – ) last released its earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.19). Haverty Furniture Companies had a return on equity of 14.98% and a net margin of 5.64%. The business had revenue of $184.00 million for the quarter, compared to analysts’ expectations of $192.70 million. As a group, equities research analysts anticipate that Haverty Furniture Companies will post 1.58 EPS for the current fiscal year.

Haverty Furniture Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This is a positive change from Haverty Furniture Companies’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 4.47%. Haverty Furniture Companies’s dividend payout ratio is currently 46.55%.

Analyst Upgrades and Downgrades

Separately, Benchmark reiterated a “buy” rating and set a $45.00 target price on shares of Haverty Furniture Companies in a research report on Thursday, May 2nd.

Institutional Investors Weigh In On Haverty Furniture Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. EMC Capital Management increased its stake in Haverty Furniture Companies by 10.3% during the first quarter. EMC Capital Management now owns 8,064 shares of the company’s stock worth $275,000 after acquiring an additional 750 shares during the last quarter. Caxton Associates LP grew its stake in shares of Haverty Furniture Companies by 88.2% in the first quarter. Caxton Associates LP now owns 19,743 shares of the company’s stock valued at $674,000 after buying an additional 9,254 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of Haverty Furniture Companies in the first quarter valued at about $379,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Haverty Furniture Companies in the first quarter valued at about $206,000. Finally, Acadian Asset Management LLC grew its stake in shares of Haverty Furniture Companies by 16.2% in the first quarter. Acadian Asset Management LLC now owns 31,460 shares of the company’s stock valued at $1,072,000 after buying an additional 4,394 shares in the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Haverty Furniture Companies Company Profile

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Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products and eclectic looks; and mattress product lines under the Tempur-Pedic, Serta, Sealy, and Stearns and Foster names.

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